XRP, a Ripple-backed token that positions itself as one of the top 6 cryptocurrencies by global market cap, birthed a whirlwind of speculative buzz today following the noting down of two significant whales transfers within the broader crypto market amid XRP’s price pump. As per insights unveiled by the blockchain tracking platform Whales Alert, today’s whales transfers collectively showcased the relocation of nearly 47 million XRP to two different CEXs, nabbing noteworthy attention globally.
Meanwhile, Ripple’s price action as of press time contrasted with the usual market sentiment of a price slump with substantial dumps, portraying a noteworthy upward movement today. The derivatives data surfacing within the market further aligned with the price’s contrasting nature in comparison to the whales dump, signaling an uptrend for it.
A renowned crypto market analyst, Cryptoes, further propelled bullish thoughts on the Ripple-backed token, mirroring today’s surge. In a recent post shared on X, the analyst spotlighted Ripple’s upward movement, stating “XRP to North.”
XRP Whales Activity: In-Depth Report
According to the data revealed by the blockchain tracker Whales Alert, a total of 47.4 million coins was shifted to CEXs Bitstamp and Bitso today, February 15. Aligning with the data, the unknown wallet address, Rzn, was noted to be making these transfers. Intriguingly, the same wallet address has previously been recorded, moving similar amounts of XRP to the CEXs mentioned above. These transfers appear to have gained significant traction as they emerged as a recurring phenomenon following Ripple’s strategic stake acquisition in Bitstamp and Bitso.
In the interim, the derivatives data offered by Coinglass illustrated a substantial 5.71% upswing in its open interest, reaching $652.21 million. This data further showcased new money entering the market, signaling an uptrend when seen parallelly with today’s price upsurge.
Ripple (XRP) Price Soars
As of writing, the XRP price noted a significant 5.60% jump in the past 24 hours and is currently trading at $0.55043. The token’s sudden jump past the $0.55 mark has amassed considerable attention across the global crypto realm, as leading analysts recently showcased a bullish stance on it. Notably, the Ripple’s price was already trading in the green at the time of the dump. However, even subsequent to the substantial transfer of coins to CEXs, XRP continued its surge, brushing aside bearish sentiments among crypto market enthusiasts.
